ATACAMA MINERALS CORP ("AAM-V") - Aguas Blancas Project Update
Atacama Minerals Corp. is pleased to provide the following update on the Company's Aguas Blancas project.
Initial iodine production from the Aguas Blancas mine in Chile commenced in April, 2001. Iodine production to the end of July as concentrated solution totals 74,920 kilograms. As flakes (produced at Lagunas), 52,200 kilograms to date have been shipped and exported to Canada and Brazil.
There are currently 4 piles delivering pregnant solution to the Aguas Blancas iodine plant. Contained iodine in the 4 piles and in the plant brine pond is approximately 185,000 kilograms. At present, the daily iodine production (as concentrated solution) is approximately 720 kilograms, making monthly production in the order of 21,500 kilograms. Production rates will be gradually increased to levels approaching 60,000 kilograms per month.
Current water requirements for operations are approximately 30 litres/second. Atacama has secured sufficient water supply for all future expansions of the project with 114.55 l/s granted to date.
The official mine opening ceremony is scheduled for late November. The Company will be honoured with guests including the President of Chile, the Mining Minister and all other regional authorities.
Both Atacama and its partner ACF Minera S.A. favour an aggressive growth strategy and are reviewing possible strategic acquisitions that would boost iodine reserves and production levels rapidly. Expansion of Aguas Blancas into nitrate and sulphate production is on schedule with accumulation of raw salts from iodine production ongoing. Initial rates for these products are projected at 100,000+ tonnes of nitrates and 200,000+ of sulphates per year. TEL: (604) 689-7842 Atacama Minerals Corp. FAX: (604) 689-4250 Richard P. Clark, President |
